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Hi I, M Happy to Join You Site Essay

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EVOLUTION OF THE MARKETING CONCEPT

    ← the idea that a business must consider both its potential users and its competitors in every important business decision
    ← marketing concept requires three major steps:
      1. identify an opportunity
      2. ensure opportunity has not been met by competitors already, or meet opportunity differently than competition does
      3. use appropriate marketing strategies to sell product/service


SUPPLY AND DEMAND

    ← when the supply of a product that consumers want or need is low, marketing is not as important a business activity as when the supply is high

Why?

    ← low supply means high demand so excessive marketing is redundant – the product usually sells itself
    ← some companies continue to market during times of low supply (i.e., sports teams) – Why?


    ← high supply means lower demand so marketing is needed to sell the excess goods
    ← some companies market less during times of high supply (i.e., seasonal goods) – Why?


HISTORY OF MARKETING

    ← from ancient times till the Industrial Revolution marketing played a less important role in business than it does today


    ← it was mainly concerned with distribution and sales vs. research, advertising, packaging, etc.

    ← before mass production, the demand for products was greater than supply






MARKETING & INDUSTRIALIZATION

    ← businesses changed during and after industrialization – steam & eventually electricity, gas and oil provided power

    ← factories now could produce huge quantities of inexpensive goods, & provide jobs & salaries to thousands of workers

    ← railroads moved goods all over the country, making it easy for people to buy goods

    ← etc.
    ← marketing also changed during the late 1800s and 1900s

    ← the oversupply of labour and production meant that consumers could acquire inexpensive goods

    ← marketing was concerned with selling output

    ← This time saw growth of department store, mass media, supermarket...

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MLA Citation

"Hi I, M Happy to Join You Site". Anti Essays. 16 Dec. 2018

<http://parimatch-stavka7.com/free-essays/Hi-I-M-Happy-To-Join-383871.html>

APA Citation

Hi I, M Happy to Join You Site. Anti Essays. Retrieved December 16, 2018, from the World Wide Web: http://parimatch-stavka7.com/free-essays/Hi-I-M-Happy-To-Join-383871.html


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